Money Exchange in Prague? HOT TIP!

“Where can I change my money in Prague?”

“Whats the best way to take money from my home back account?”

“Should I bring my bank debit card?”

This are some of the questions we often receive in our inbox and as an answer there are three main recommendations we share with everyone:

The Cash Machine (also known as Bankomat in Czech Republic)

The cash machine is the best place to get money. But, always check with your bank in your home country as some banks charge international fees, etc depending on their fine print.                                                                                                       If you are coming from a EU country, some banks don’t charge any fee for money withdraws or PoS payments. But again, remember to check it with your home country bank

The Bank Solution

You can always visit a local bank if you have to exchange your home currency to Czech Crowns. The banks have more fixed rates and aren’t in business to “change” money. In Prague they charge a commission based on your amount. So, yes, small amounts help. But still the cash machine usually works out to be the easiest and cheapest method, in general.

Exchange Offices

In the case you have cash on hand and need to have it exchanged, there are good exchange offices in the center near the Wenceslas Square located in Politických vězňů‎ street (find it on Google maps), they always have the best rate in Prague and they never charge commissions. Try to exchange small amounts depending on your needs.

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Never ever use  the exchange offices located in main touristic areas (Old Town, Mustek, Wenceslaus Square). They try to deceive customers with their Sell/Buy postings outside. Besides the high rates that usually comes along with big commission this offices may give you fake money or steal from you in all possible ways.

Payments in Euros

Even though Euros are now accepted in Prague in almost all shops and supermarkets also as restaurants, (you will find it usually marked near the cash desk with the exchange rate details) the exchange rates are so low that you rather go change your money first.